talking about $65 you guys should read this carefully.
"For the quarter, the Company reported net income of $409,000, or $0.01 per diluted share, excluding acquisition related
expenses and other non-recurring charges, compared to net income of $463,000 or $0.02 per diluted share for the same
period in 1998. Including these expenses, the Company reported a net loss for the quarter of $5.0 million, or $0.11 per diluted
share compared to a loss of $2.7 million, or $0.11 per diluted share for the second quarter of 1998.
a couple of contradictions here.
#1. the same old GAAP issue, how can the CEO claim profitability when they are reporting an 11 cent loss.
#2. if you accept their reasoning that they are profitable from an operating standpoint, then they were already profitable in Q2 1998 when they earned 0.02 per share !
so then how can you state
''Achieving profitability two quarters ahead of Wall Street's expectations demonstrates the strength of our
business model. " said Naveen Jain, chairman and CEO,
InfoSpace.com.
I'm shorting on any strength tomorrow.
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